On Thursday, American Express announced it has entered into an agreement to acquire Center, a software company specialising in expense management.
American Express to Buy Software Firm Center
The move is said to be aimed at enhancing its corporate and small business payment solutions. The acquisition is expected to close in the second quarter of 2025.
Center’s software integrates real-time expense tracking, automated accounting, and policy compliance tools, streamlining financial operations for businesses.
It is expected that American Express will combine the technology with its existing corporate and small business cards.
“As a leader in corporate and small business cards, it is our job to deliver innovative products and services that help customers run their businesses more efficiently,” said Raymond Joabar, Group President of Global Commercial Services at American Express.
“By integrating Center’s outstanding talent and technology, we can save our customers time and money and strengthen our leadership position in commercial card payments.”
Naveen Singh, CEO and Co-founder of Center, highlighted the synergy between the two companies. “We have always believed that card and expense management should be deeply linked, and we believe that even more great work can be done by incorporating our capabilities and talent into American Express,” he said.
The acquisition will enable American Express to provide businesses with real-time visibility into spending, automate expense submissions, and improve compliance while maximising rewards.
